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Mortgage Loans

Mortgage Loans

Our Homeownership Center is the one-stop-shop!

You can find dozens mortgage loan kinds, and a large number of factors to think about whenever wanting to determine how to buy, but only 1 loan is suitable for you. We make discovering that right loan quick and simple to get hold of certainly one of our home loan specialists today to begin with!

Down Payment Assistance

NeighborWorks Down Payment Assistance system helps make homeownership feasible for first-time homebuyers of moderate earnings by filling the gap between that which you are able to afford additionally the expense of housing.

A first-time homebuyer is somebody who has perhaps perhaps not owned a primary residence within the last few 3 years. NeighborWorks Alaska provides two programs for first-time homebuyers, the Alaska Housing Finance Corporation (AHFC) Tax-Exempt plus the Taxable First-Time Homebuyer.

Tax-Exempt First-Time Homebuyer System

The Tax-Exempt system (TEP) provides reduced rates of interest to qualified first-time homebuyers whom meet maximum earnings restrictions and purchase price limits. First-time homebuyers can be qualified to receive mortgage decrease as well as the NeighborWorks Alaska advance payment support program to greatly help supply the payment that is down eradicate the requirement for mortgage insurance coverage helping you save money on a monthly basis.

Taxable First-Time Homebuyer System

This first-time homebuyer program provides a lowered interest rate to qualified borrowers. Unlike the tax-exempt system, there aren’t any maximum income or acquisition price restrictions.

United states of america Department of Agriculture (USDA)

Provides up to 100per cent funding for qualified borrowers thinking about purchasing a true house in specified aspects of rural Alaska.

Federal Housing Assistance (FHA)

Created for a debtor with just minimal advance payment and enables reduced credit ratings than that needed for Conforming loans; now offers a ‘streamline refinance’ of a FHA that is existing loan minimal documents needs.

Veteran’s Administration

Particularly reserved for the citizens whom served into the military, while offering a purchase transaction with no deposit

Do It Yourself Loans:

Isn’t it time to correct, renovate, or enhance your home?

NeighborWorks Alaska provides the AHFC renovation loan options addressing three scenarios that are possible

1) Purchase Renovation

  • Renovations along with a purchase

2) Second for Renovation

  • Improvements to home you already have

.3) Refinance Renovation

  • Incorporates renovations as a brand new loan.

Who’s Eligible?

Owner-occupied single-family residences, duplexes, triplexes, fourplexes, condominium units

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